Estate of Friedman

California Court of Appeal Oct 4, 1971 No. Civ. 37718Published

Before: Fleming

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Holding. The court held that ownership of the five savings accounts must be determined by the legal titles in which they stood at the time of the decedent's death, as the decedent died before formalizing his testamentary intentions.

Issues

Whether the five savings accounts should be included in the decedent's estate or awarded to his widow based on the form of title at the time of death.

Disposition. remanded

Quotations verified verbatim against the opinion

“Under these circumstances the general rules of law control, and ownership of the savings accounts must be determined by the titles in which they stood at the time of Aaron’s death.”

“Financial Code section 7604 provides that in the absence of fraud or undue influence the joint tenancy form of a savings and loan investment certificate is conclusive evidence of the intention of the certificate holders to vest title in the survivor.”

“But even a tentative (revocable) trust becomes irrevocable on the death of the trustor—in the absence of some decisive act or declaration of disaffirmance during the trustor’s lifetime.”

Opinion

FLEMING, J.

The issue here is which of five savings accounts should be included in the estate of Aaron Friedman. The adverse parties are Irene Friedman, Aaron’s widow and administratrix of his estate, who claimed the accounts as hers; and Rose Knable, Aaron’s sister, who petitioned the probate court to include the savings accounts in Aaron’s estate.

[401]

Aaron and Irene were first married in Cleveland, Ohio, in 1919. Because Aaron failed to support her, Irene divorced him in 1920 and moved to Los Angeles. Aaron remarried, and his second wife died in 1967. In July 1968 Aaron came to Los Angeles to visit his sister Rose, met Irene, and asked her to remarry him. Irene told him she could not live on love alone, that she would not marry him again unless he had money.

Aaron went back to Cleveland to wind up his affairs, and on 18 August he returned to Los Angeles, where Irene met him at the airport. He handed her an envelope which contained five $15,000 cashier’s checks, which checks, however, were not payable to her. “Here,” said Aaron, “this is yours.” Later that night Irene handed the checks back to him. “You take it,” she said, “we are not married yet.”

The following day Aaron and Irene went to a savings and loan association. To maintain maximum deposit insurance protection five savings accounts were opened under the following names:

Aaron Friedman, with Power of

Attorney to Irene Friedman..................... $15,000

Irene Friedman, with Power of

Attorney to Aaron Friedman.................... $15,000

Aaron Friedman and Irene Friedman

as Joint Tenants (H/W)........................ $15,000

Aaron Friedman, as Trustee for Irene Friedman (Wife), with Power

of Attorney to Irene Friedman................... $15,000

Irene Friedman, as Trustee for Aaron Friedman (Husband) with Power

Estate of Friedman

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FLEMING, J.

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